Another flat scam came to light with the Ernakulam Central police on Thursday arresting the managing director of Blue Dot Construction.
The company, that had entered into an agreement with Greater Cochin Development Authority for constructing apartments in Gandhi Nagar, had cheated several people. The arrested is T G Varghese, 53, Thudathil House, HIG Avenue, Elamkulam near Kadavanthara.
The apartments were constructed under the name ‘Soorya Enclave’ and the land for the same was given by the GCDA on a deal that 30 per cent of the flats will be handed over to the development authority, nearly four years ago.
The accused had garnered funds amounting to `3 crore from various persons with the promise of handing over the flats.
“There were 48 flats constructed by the company, out of which 17 were handed over to the GCDA as per the agreement. But Varghese cheated several people after showing a single flat and obtaining money from them,” said G Ananthlal Sub-inspector of the Central police station.
A loan of `35 lakh was taken from a private company by Blue Dot Construction for the construction of the flats. Later, the private company registered a complaint against Varghese before the Chief Judicial Court which ordered the Central police to conduct a probe into the incident.
The police arrested the accused while he was attempting to escape to a foreign country. Seven similar cases of cheating have been registered at the Kadavanthara and the Hill Palace police stations. There are several banks and financial institutions that have advanced money for the construction and have filed cases before the Debt Recovery Tribunal
The arrested was presented before the Chief Judicial Magistrate and has been remanded in judicial custody.
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